Wanda Vista hotel for Chicago
China’s largest commercial property company, Dalian Wanda, and a Chicago real estate developer announced they will build a US$900 million skyscraper, the largest-ever real estate investment by a Chinese company in Chicago.
Builders will break ground this summer on the Vista Tower, a 95-story condominium and hotel complex that will be Chicago’s third-largest skyscraper, the two companies and Chicago city officials said in a statement.
Last week, affiliates of Chicago-based Magellan Development Group and Beijing-based Wanda Group completed a land purchase for the building, which will have 406 residential units, the 200-room Wanda Vista hotel and approximately 9,000 square feet of retail space.
The building will be located near Chicago’s Lake Michigan shoreline at the end of the city’s Upper Wacker Drive, south of the Chicago River.